Renovated, 5yr Warranty, Strong Equity Sold

  • $95500
  • 2 beds
  • 1 baths
Price:
$95500
Address:
1215 James St
Baltimore, MD 21230
Bedrooms:
2
Bathrooms:
1
Terms:
For Sale
Property Type:
Home
Basement:
Unfinished
Const. Type:
Brick Row Home

Additional Features

*|MC:SUBJECT|*

Hi Friend,


We're excited to share with you today a fresh full gut renovation with great equity we're nearing completion on at an outstanding price point. Zero deferred maintenance and a 5yr warranty, nestled in a neighborhood Zillow characterizes as "Very Hot".  New electrical, new plumbing, new hvac, new grey oak floors, new fixtures, new lighting ... you'll see from the photos below that this home is currently getting new everything. You'll see when comparing to Google Street view images that the Formstone exterior has even been removed, restoring the facade to it's original 1898 beauty. Walking distance to downtown and the inner harbor, the Orioles & Ravens stadiums and the Horseshoe Casino are just a few reasons why this neighborhood appreciated 7.7% in 2017. Our sales price for this home is $95,500 and we've left equity on the table for an easy refinance as well. Grab this one fast before it's gone!

Looking forward to answering your questions!
-Cris
919-675-CRIS

1215 James St, Baltimore, MD
1215 James St map view

1215 James St, Baltimore, MD 21230
2br/1ba
Cap Rate: 9.27% + 42.5k equity

Income Analysis
Listing Price: $95,500
Total monthly projected rental income: $1200/mo
Estimate Annual Taxes: $1,698
Estimated Annual Insurance: $840
Estimated Annual Maintenance Costs: $1,200
** This estimate is based on any potential repairs the property may need over the course of a year. In our experience, this number is typically lower, but we always estimate on the high side.
Annual Property Management: $1,440
**The fee is 10% of the monthly rent.
Annual Net Rental Income: $14,400
Annual Cumulative Hard Costs: $5,178
Adjusted Gross Annual Income: $9,222
5 Year Return: $46,110
10 Year Return: $92,220
 

Property and Area Photos












More About Washington Village/Pigtown
Washington Village / Pigtown ZIP codes: 21230

Pigtown’s biggest draws are its diversity (social, economical, and racial) and location. The neighborhood is gaining in value but is very affordable, attracting students, retirees, and singles, and young couples and parents. Those who call Pigtown home love its proximity to downtown, I-95, Federal Hill, the MARC train, and the stadiums. With a very involved community, Pigtown is growing rapidly and welcoming more and more new residents, businesses, and organizations. The Pigtown Historic District comprises some 36 city blocks lying in Southwest Baltimore, south and east of the Baltimore & Ohio Railroad yards. Developing initially as a community for railroad workers in the 1840’s, along Columbia Avenue (now Washington Boulevard), Ramsay, McHenry and Poppleton Streets, the area grew rapidly to the south during the industrial expansion of the 1850’s and 1860’s. Small two-story houses were built for workingmen on the narrow streets running south of Washington Boulevard with three-story gable-roofed houses and then early Italianate house lining Washington Boulevard and Scott Street to serve as housing for shopkeepers and upper-level managers. Development of the Pigtown is intimately linked with hallmark events of the Industrial Revolution in Baltimore, particularly the growth and development of the B&O Railroad, the nation’s first. In the 1980s, in an effort to reinvigorate Pigtown, the neighborhood name was officially changed to Washington Village. The true name of the neighborhood is still under debate. With the rise in property values and the influx of newcomers to city life in the late 1990s through today, Pigtown’s population and quality of life has consistently risen. In the early 2000s, Pigtown was designated an Empowerment Zone, bringing new businesses and homeowners. This effort has continued with its designation as a Main Streets Community, which promotes Pigtown’s eclectic business corridor. Recently, Baltimore’s west side has been targeted by the mayor’s office as an are of focus for major developments and investment, which will no doubt continue to grow Pigtown in value and quality of life. Today, Pigtown is a community of renters, homeowners, and businesses. Residents are socially, racially, and economically varied, making Pigtown one of the most diverse neighborhoods in Baltimore city. Pigtowners are very proactive in their neighborhood organizations, contributing to the continuing growth, quality of life, and improvement of Pigtown. Pigtown’s energetic community, diversity, value, growth, and GREAT location continues to attract new residents, businesses, and development. Big things are happening in Pigtown!
 
Unaware of what the Baltimore
Real Estate Market has to offer? 

 

Baltimore City was named the #1 Rental Millenial Mecca Market for 2017 as well as #2 in the Nation for Single Family Rental Income Returns! Finally it's recently been named the #1 market in the US for property flip returns as well.


Make sure to also read about the multi-billion dollar Port Covington project coming up in downtown Baltimore. It's one of the largest development projects currently on the East Coast, bringing in 20k new employees to the downtown area. Recently Goldman Sachs invested $233 Million in this project too in an effort to lure Amazon to make Baltimore it's 2nd Home.

What's a Cap Rate?

 

The net income an asset produces in a given year divided by its purchase price. The capitalization rate is used to help determine the rate of return, or how fast an asset pays for itself and begins to make a profit. For example, if an asset cost $1,000,000 and it produces $100,000 in a given year, the capitalization rate is 10% and it will take 10 years to pay for the asset with the money it produces. However, it is important to note that the capitalization rate may change from year to year. For example, the same asset could produce $100,000 in year one but $250,000 in year two. It is informally known as the cap rate.

Other Questions? Call Now!

Call (919) 675-2747 for more details

Property Location